Business software giants SAP SE and Oracle Corp. could invest in German IT developer RIB Software SE, Reuters reported Aug. 5, citing financial industry sources.
Other potential investors in RIB Software reportedly include rival companies such as U.S.-based Autodesk Inc. or Glodon Co. Ltd.
RIB Software is seeking potential long-term investors that could support its digital strategy, which entails developing a digital cloud platform for construction businesses, according to the report, which cited Handelsblatt.
Company CEO Thomas Wolf said the investor could be a strategic player or private equity, and could hold up to 30% of RIB Software's share capital.
Wolf added that RIB Software is backed by activist investor ENA Investment Capital LLP, which owns a stake of almost 10%.